Enliven Therapeutics (NASDAQ:ELVN) Trading Up 7.6% – Should You Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price rose 7.6% on Thursday . The stock traded as high as $24.45 and last traded at $24.20. Approximately 91,031 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 252,244 shares. The stock had previously closed at $22.50.

Analysts Set New Price Targets

ELVN has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of Enliven Therapeutics in a research note on Tuesday, October 1st. BTIG Research began coverage on Enliven Therapeutics in a report on Friday, December 13th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Robert W. Baird increased their price target on Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $38.25.

Enliven Therapeutics Stock Performance

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -12.85 and a beta of 1.02. The company has a 50 day moving average price of $25.01 and a 200 day moving average price of $24.30.

Insiders Place Their Bets

In related news, CFO Benjamin Hohl sold 3,350 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $22.15, for a total transaction of $74,202.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Samuel Kintz sold 2,730 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $27.50, for a total value of $75,075.00. Following the transaction, the chief executive officer now owns 1,033,793 shares of the company’s stock, valued at $28,429,307.50. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,853 shares of company stock valued at $2,577,630 over the last 90 days. 29.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Quest Partners LLC raised its position in Enliven Therapeutics by 87.3% in the 2nd quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock valued at $37,000 after purchasing an additional 742 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Enliven Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock valued at $232,000 after acquiring an additional 3,559 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Enliven Therapeutics in the third quarter valued at approximately $256,000. Verition Fund Management LLC purchased a new position in Enliven Therapeutics in the third quarter worth approximately $271,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Enliven Therapeutics during the 2nd quarter worth approximately $322,000. 95.08% of the stock is owned by hedge funds and other institutional investors.

About Enliven Therapeutics

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.